What is Boom Foundation?
Boom Foundation is the politically-neutral non-profit arm of the Boom DeFi Ecosystem that aims to make impact investments for social good using its grant of 50 million Boomcoins.
Boom Foundation initiatives will be branded Boomcoin-for-X, where X = meals, schools, teachers, medicine, nurses, shelter, clothing, environment and other charitable causes.
Unlike other Foundations, all Boom Foundation investments can be tracked on the open and public Boom blockchain.
The vision:
Boomcoin-for-Meals
Boomcoin-for-Meals (B4M) is Boom Foundation’s first of many charity initiatives that aims to feed two million Nigerians amid the ongoing severe food crisis brought upon by the recent hike in inflation.
Nigeria is grappling with its worst economic crisis in a generation, as headline inflation hit 33.3 percent in March 2024, eroding consumer spending power leading to the price of food, fuel and medicines skyrocketing out of the reach of one in ten Nigerians.
This means that nearly 22 million people in Nigeria are unable to feed themselves and their families.
This initiative will provide vital relief by airdropping 1 Boomcoin (BMC) each to 2 million Nigerians who will be able to purchase food bundles that will feed a family of 4 for a day, in-app and have it delivered to their homes. Boom Foundation has allocated 1 million BMC towards B2M and has opened the initiative to public donations, which will be matched 1:1 for all donated BMCs, up to an additional 500,000 BMC.
Board Members
Peter Alfred-Adekeye
Chairman
